Futon Pros
A futon offers a variety of options in color and style; a futon shop may offer the same basic futon but designed in a number of different ways; the wooden frame may be finished in a color to match other wooden furniture in your home, or designed to look like bead board, like mission-style furniture, or even without arms for a modern appearance. The futon mattress or cushion has a removable cover; optional replacement covers allow you to change the color or pattern of the futon. The cover is also washable, so it can be removed and washed as needed, unlike the covers or upholstery on many types of seats or mattresses. If you keep the futon for so long that the cushion no longer feels comfortable, the cushion can be replaced easily.
Futon Cons
No matter what style the frame, the cushion still looks like a futon cushion, so it may look a bit out of place in a living room or family room among non-futon seating. Transforming the futon from seat position to bed position and back can be a bit tricky if you're doing so on your own, as the cushion is not attached to the frame and may slide off it partially. The cushion may even slide a bit while it is in the seat position, requiring adjustment of this bulky object.
Click-Clack Positive Attributes
Click-clack furniture looks like standard furniture, so it is less difficult to find other seating with a similar style for the living room, for instance. Click-clack style furniture typically has more position options than a futon. While options vary from model to model, some also lift from the side when in bed or reclining position, transforming what once was a couch into a reclining chaise. Some click-clack furniture has hidden storage beneath the cushioned area, providing space to stash pillows and blankets when you're not using the piece as a bed. Click-clack furniture is relatively easy to adjust and lock into position, operating a bit like a folding adjustable lawn chair.
Click-Clack Concerns
Click-clack furniture tends to be a bit uncomfortable, especially in reclining or bed position, as the area that bends feels like a firm crease beneath your back. The cushion cover cannot be removed, so washing it is not an option. The size of the cushions on click-clack seating varies greatly from one manufacturer and model to the next, so if you plan to use it frequently as a bed, it may be difficult to find sheets and bedding that fit.